Newcastle United's Saudi Arabian-backed takeover was completed in October 2021, ending Mike Ashley's 14-year ownership of the Premier League club. The £305 million deal was approved by the Premier League after assurances that the Saudi state would not control the club.
The Public Investment Fund (PIF), with assets of £250 billion, provided 80% of the funding, fronted by financier Amanda Staveley. The takeover made Newcastle one of the wealthiest clubs in world football. Fans gathered at St James' Park for the first match under the new ownership against Tottenham Hotspur on October 17, 2021.
